Killing Dual Agency

My friend (and fellow VLA alumni), Jim Duncan, announced his move to Nest Realty Group this week. It's a new firm in Charlottesville that will NOT practice dual agency.

Jim's latest video blog talks about why he's making this move, how hard it is to kill this outdated practice and what he's hoping consumers will see.

I'm honored to know Jim and applaud him for having the courage of his convictions.

It's long past time to kill dual agency once and for all! The only ones benefiting from this practice are real estate agents. Consumers and the agents who get this will have to work together to end this practice!

RE: Killing Dual Agency

I too am in favor of killing this practice.  I am a firm believer that an agent can not be equally fair to both parties - you represent one or the other...not both.  If I have someone interested in purchasing my listings and they do not have an agent, I refer them to another agent in my office so they, too, can have fair representation. 

RE: Killing Dual Agency

With the comment above ".....I refer them to another agent in my office......"  You need to remember, this is STILL dual agency!  You are just becoming a "designated agent" for your side of the transaction.  Any issue that arise, need help, or either of the clients want to talk to the broker of the office, well, nothing has changed, you still have "dual agency".

If you truly want to cut the tie, you MUST refer the client to an agent in a different real estate company all together.  Be sure to remember is if you are truly against "dual agency".

RE: Killing Dual Agency

In the land business I would say 95% of all transactions are where listing agent is also the sales agent. I have never had a problem nor any dissatisfied buyers or sellers and commissions in 10% range.

I guess this why successful land agents comprise less than .5% of realtors today but are usually in the upper crust of income.